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Sunoco LP
Location: Dallas, Texas, United States Founders: Joseph Newton Pew, Philip Pisano, and Edward O. Emerson Founded: March 27, 1886 Key People: Joseph Kim (CEO & President) Thomas R. Miller (CFO) Matthew S. Ramsey (Chairman) Employees: 6,513 More About The Manufacturer: In 1886, its partners – Joseph Newton Pew, Philip Pisano, and Edward O. Emerson – decided to expand their gas business with a stake in the new oil discoveries in Ohio and Pennsylvania. Four years later, the growing enterprise became the Sun Oil Company of Ohio. Sun Oil diversified quickly, active in production and distribution of oil as well as processing and marketing refined products. By 1901, the company was incorporated in New Jersey as Sun Company and turned its interest to the new Spindletop field in Texas. Pew's sons, J. Howard Pew and Joseph N. Pew Jr. would take over the company after their father's death. With a growing portfolio of oil fields and refineries, Sun opened its first service station in Ardmore, Pennsylvania in 1920. In 1922, it changed its name back to Sun Oil Company and, in 1925, it became a public company via an initial public offering on the New York Stock Exchange. Sunoco ranked 39th among United States corporations in the value of World War II production contracts. Sun expanded internationally following the war. Its first Canadian refinery was built in 1953 in Sarnia, Ontario, home to the burgeoning new petrochemical industry. Sun established a facility at Venezuela's Lake Maracaibo in 1957, which produced over a billion barrels (160,000,000 m3) before the operation was nationalized in 1975. In 1956, Sunoco introduced "custom blending" pumps, an innovation that allowed customers of Sunoco service stations to choose from several octane ratings through a single pump. Sunoco stations offered as many as eight grades of "Custom Blended" gasolines from its "Dial A Grade" pumps ranging from subregular Sunoco 190 to Sunoco 260, the latter a super-premium grade of 102 octane that was advertised as the "highest octane pump gas" and very popular with operators of V8-powered muscle cars of the 1960s. Sun Oil continued marketing its petroleum products under both the Sunoco and DX brands through the 1970s and into the 1980s. In the late 1980s, Sun began rebranding DX stations in the Midwest to the Sunoco brand and even introduced the high-octane Sunoco ULTRA 94 gasoline to stations in that region, but by the early 1990s, they pulled out of virtually all areas in the southeastern U.S. and west of the Mississippi, resulting in the closing and rebranding of service stations and jobbers to other brands in those areas, notably Sinclair in Oklahoma. Ironically enough, they also at this time offered Economy 86, which was the lowest commercially available gasoline at the time. With increased diversification, Sun Oil Company was renamed Sun Company in 1976. In 1980, Sun acquired the U.S. oil and gas properties of Texas Pacific Oil Company, Inc., a subsidiary of The Seagram Company, Ltd., for US$2.3 billion—the second-largest acquisition in U.S. history to that date. Through the 1980s, Sun developed oil interests in the North Sea and offshore China and expanded its holdings in both oil and coal with additional U.S. business acquisitions. In 1983, consumers saw the arrival of Sunoco ULTRA 94, the market's highest octane unleaded gasoline. Then in 1988, Sun undertook a major restructuring to segregate its domestic oil and gas exploration and production business and the focus the company on its refining and marketing business. This led to the acquisition of Atlantic Refining and Marketing (and, in effect, that company's convenience store chain, A-Plus), including its Philadelphia refinery which was later merged with the former Gulf Oil refinery next door that Sunoco acquired from Chevron. By the 1990s, Sun had departed the international exploration business and was fully dedicated to its branded products and services. In 1994, Sunoco acquired the Philadelphia Chevron Oil refinery consolidating operations with its own adjacent which it had acquired with Atlantic. Sun sold its remaining interest in Canada's Suncor Energy in 1995, but markets product from two refineries – one in Toledo, Ohio, and the other Sarnia, Ontario – in joint ventures. In 1998, Sun Company, Inc. became Sunoco, Inc. In 2011 the Toledo facility was sold to PBF Energy. In 2004, Sunoco replaced the ConocoPhillips' 76 brand as the "Official Fuel of NASCAR." After ConocoPhillips abandoned the marketing of the Mobil brand name in the Washington, D.C., area, Sunoco purchased these rights, converted Maryland and Virginia Mobil stations to the Sunoco brand, bringing the A-Plus convenience store with them – prior to this, these stations had convenience stores under the Circle K or On the Run brands. In September 2009, Sunoco sold its retail heating oil and propane distribution business to Superior Plus for $82.5 million in cash. In 2012, Sunoco demolished its Eagle Point refinery complex in West Deptford Township, New Jersey, which had been idle since 2010. Today Sunoco is definitely in iRacing being the main fuel supplier for the NASCAR vehicles from the trucks all the way up to the Monster Energy Cup cars. Category:North American Fuel Suppliers Category:American Fuel Suppliers Category:Fuel Suppliers